In terms of preparation “Broadcast Safe” is the thing to look for. google for “broadcast safe sony vegas” In terms of delivery medium just phone them up and ask for accepted delivery formats. Bear in mind that some people are a lot more fussy than others. I just googles for “MTV acceptable delivery formats” and the first link looks like what you are looking for.
I would however recommend getting someone in to help with final grade etc. you will learn a lot. Find someone who is up for helping and teaching you. Maybe a post on this forum to find someone.
google is your friend?
(but obviously you need to know the official terms for things first)
Ben